the gold rally has stalled since then, putting Schiff's call even further into the ether. On Monday, the April contract GCJ3 -1.55% settled below $1,650 an ounce, a five-week low. And it's been pretty much rangebound since. But Schiff takes the long view.

In fact, he says gold could go beyond $5,000, depending on how much longer money printing goes on. "A lot of people will get caught by surprise. People who buy and have the patience to hold on will be rewarded," he said''